13 Jan

RICS anticipates more activity in housing market in 2010

RICS anticipates more activity in housing market in 2010

The Royal Institution of Chartered Surveyors (RICS) has stated that it expects to see the property market pick up this year.

RICS spokesperson Jeremy Leaf said: "It is likely that the new year will see more interest and activity in the market as those who held back start to market their property with renewed optimism."

His comments come as the organisation announced the results of its December Housing Market Survey.

According to RICS members, the gap between demand and supply on the property market has narrowed. 20 per cent more respondents also reported an increase in enquiries from potential purchasers, compared with the month before.

Mr Leaf added that this increase in new enquiries is helping to push prices up, albeit only slightly.

However, while surveyors in areas such as London, the south-west and East Anglia reported rising prices, many of their northern counterparts noted that values are falling.

Data released on January 12th by Communities and Local Government revealed that average UK house prices rose by 0.6 per cent in November 2009, compared with the same month in 2008 and were up by 1.7 per cent over October 2009.ADNFCR-1222-ID-19556217-ADNFCR

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